· China was the first country to recover from the Covid-19 pandemic
Imagine that an entrepreneur who is running a promising business wants to change over from being a privately-held company and to become a publicly-owned company--that is, to get an infusion of money in exchange for becoming accountable to shareholders. How might this be done?
The University of Michigan consumer confidence index fell to 82.8 in May, from 88.3 in April.
Michael Chui and Anna Bernasek of the McKinsey Global Institute interview Christopher Pissarides (Nobel, '10) "about how he developed the matching theory of unemployment, how COVID-19 affected his research, and what might be in store for labor markets after the pandemic" (May 12, 2021, "Forward Thinking on unemployment with Sir Christopher Pissarides"). At the website, audio is available for the half-hour interview, along with an edited transcript, upon which I will draw here.
It seems obvious that the COVID-19 pandemic must be worse in lower-income countries.
For much of human history, a majority of people have worked in agriculture.
Since the U.S. abandoned the gold standard, the value of a currency is what it represents, not what it’s backed by, digital or otherwise.